“`html

“`# Abercrombie & Fitch Reports Strong Q1 Results with Record Sales Growth

**Increased Sales and Profitability Metrics**

Abercrombie & Fitch Co. (NYSE: ANF) reported an 8% increase in net sales for the first quarter ending May 3, 2025, compared to the same period last year. This performance was bolstered by significant growth in the Hollister brand, which saw a 22% rise, while Abercrombie brands experienced a 4% decline.

**Financial Highlights**

Operating income for the quarter reached $102 million, down from $130 million a year ago, with an operating margin of 9.3%, a decrease from 12.7%. The earnings per share (EPS) stood at $1.59, surpassing company expectations.

**Share Repurchase Actions**

During the quarter, Abercrombie & Fitch repurchased 2.6 million shares for $200 million, which represents 5% of its shares outstanding as of February 1, 2025. This marks the company’s fifth consecutive quarter of share buybacks.

**CEO’s Statement on Growth and Strategy**

Fran Horowitz, CEO, stated that the company’s ability to adapt contributed to record net sales. He emphasized a focus on top-line growth, ongoing store expansion, and investments in digital and technology to ensure long-term success.

**Q1 Financial Summary**

– **Net Sales**: $1.1 billion, up 8% from the previous year, with comparable sales increasing by 4%.
– **Operating Income**: $102 million, down from last year.
– **Operating Margin**: 9.3%, lower than the previous year’s 12.7%.

**Additional Financial Data**

The table below summarizes the earnings per share and adjusted net income data for Q1 2025 versus 2024:

| Year | GAAP EPS | Adjusted EPS |
|————|———-|————–|
| 2025 | $1.59 | $1.59 |
| 2024 | $2.14 | $2.06 |

A noted impact of foreign currency exchange rates lowered the adjusted EPS by $0.08 this quarter.

Abercrombie’s strategic decisions and market performance will continue to be closely watched as they navigate these changes in the retail landscape.# Company Reports First Quarter Earnings Drop in Share Value

**Earnings Decline**
The company reported an income per diluted share of $1.59 for the first quarter, down from $2.14 last year.

**Net Sales by Segment**
First-quarter net sales are detailed below by segment and brand:

| Segment | 2025 Sales | 2024 Sales | 1-Year % Change | Comparable Sales % |
|————-|————|————|——————|———————|
| **Americas**| $874,804 | $820,121 | 7% | 4% |
| **EMEA** | $185,036 | $164,778 | 12% | 6% |
| **APAC** | $37,471 | $35,831 | 5% | 2% |
| **Total** | $1,097,311 | $1,020,730 | – | – |

The **Americas** segment saw sales rise by 7% while the **EMEA** region experienced a 12% increase. The **APAC** segment grew by 5%. Total company sales reached $1,097,311 in 2025, compared to $1,020,730 in 2024.# Abercrombie & Fitch Reports Mixed Sales for 2024 and 2025

### Net Sales Overview

Abercrombie & Fitch announced its net sales by brand family for the fiscal years 2024 and 2025.

#### Abercrombie Brand Performance

– **2025 Sales**: $547,947
– **2024 Sales**: $571,513
– **YoY Change**: Down 4%
– **Comparable Sales Change**: Down 10%

#### Hollister Brand Performance

– **2025 Sales**: $549,364
– **2024 Sales**: $449,217
– **YoY Change**: Up 22%
– **Comparable Sales Change**: Up 23%

### Total Company Sales

– **Total 2025 Sales**: $1,097,311
– **Total 2024 Sales**: $1,020,730
– **Overall YoY Change**: Up 8%
– **Comparable Sales Change**: Up 4%

These figures indicate a divergence within the company, showcasing strong growth in Hollister, while Abercrombie faced a decline.

Company Reports Financial Update and Adjusted Outlook for 2025

Sales Performance and Reporting Structure

Net sales are attributed to specific store locations or regions fulfilling orders.

Comparable sales are assessed on a constant currency basis, as detailed in the “REPORTING AND USE OF GAAP AND NON-GAAP MEASURES”.

The Americas segment covers North and South America operations.

The EMEA segment includes business activities in Europe, the Middle East, and Africa.

The APAC segment encompasses activities within the Asia-Pacific region, including Asia and Oceania.

Financial Position and Liquidity as of May 3, 2025

• Cash and equivalents: $511 million, down from $773 million on February 1, 2025, and $864 million on May 4, 2024.
• Marketable securities: $97 million as of May 3, 2025, compared to $116 million on February 1, 2025.
• Inventories: $542 million, reduced from $575 million on February 1, 2025, and up from $449 million on May 4, 2024.
• Borrowing capacity: $477 million under the ABL Facility, with $429 million available after minimum requirements.
• Liquidity: Approximately $940 million, a decrease from $1.2 billion on both February 1, 2025, and May 4, 2024.

Cash Flow and Capital Allocation for Year-to-Date Period

• Net cash used for operating activities: $4 million.
• Net cash used for investing activities: $31 million, primarily for capital expenditures, with partial offsets from marketable securities maturities.
• Net cash used for financing activities: $235 million, mainly for share repurchases.

In the first quarter of 2025, the company repurchased 2.6 million shares for about $200 million, reducing shares outstanding by 5% prior to stock compensation vesting. Remaining authorization for share repurchases stands at $1.1 billion.

Depreciation and amortization amounted to $39 million year-to-date as of May 3, 2025.

Revised Full Year Outlook for Fiscal 2025

Current Full Year Outlook	Previous Full Year Outlook
Net sales: Growth in the range of 3% to 6%	Net sales: Growth in the range of 3% to 5%
Operating margin: 12.5% to 13.5%	Operating margin: 14% to 15%
Effective tax rate: Around 27%	Effective tax rate: Around 26%
Net income per diluted share: $9.50 to $10.50	Net income per diluted share: $10.40 to $11.40

# Financial Snapshot: Share Repurchases and Q2 Outlook

### Share Repurchases and Diluted Shares
The company executed **$400 million** in share repurchases. The diluted weighted average shares stand at approximately **49 million**, with a slight increase to around **51 million** in the previous reporting period.

### Capital Expenditures and Real Estate Activity
Capital expenditures remain steady at about **$200 million**. Additionally, the company reported around **40 net store openings**, alongside **60 openings** and **20 closures**. Further, there were **40 remodels and right-sizes**, maintaining the overall expansion strategy.

### Second Quarter Outlook
Looking ahead, the company projects net sales growth between **3% and 5%**. Operating margins are expected to fall within the **12% to 13%** range. The effective tax rate is estimated at around **28%**. For net income per diluted share, projections range from **$2.10 to $2.30**.

### Additional Notes on Tariffs
The outlook considers the effects of current tariffs on imports into the United States. Such tariffs include a **30% tariff on goods from China** and a **10% tariff on all other international imports**. The full year outlook anticipates approximately **$50 million** in tariff expenses, which equates to about **100 basis points of net sales**.# Abercrombie & Fitch Provides Financial Outlook Ahead of Conference Call

Released March 5, 2025.

## Key Financial Insights

The effective tax rate outlook remains sensitive to the mix of jurisdictions and income levels, excluding any potential future tax policy changes. Additionally, the forecast for net income per diluted share reflects expected impacts from possible share repurchases in fiscal 2025.

The timing and quantity of repurchases will depend on market conditions, share price, legal requirements, and other relevant factors.

## Upcoming Conference Call

Abercrombie & Fitch will host a conference call today at 8:30 a.m. ET to discuss its quarterly results and second-quarter outlook. Participants must register at the provided URL to obtain a dial-in number and passcode:

Register Here

A presentation of the first quarter results will be accessible in the “Investors” section of the corporate website at approximately 7:30 a.m. ET. Investors should check the site for important initial information releases.

## Safe Harbor Statement

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements regarding Abercrombie & Fitch Co. (A&F). These statements involve risks and uncertainties, including economic conditions, trade policies, and market competition, which may affect actual results. Terms like “estimate,” “project,” and “expect” may indicate forward-looking language. A&F assumes no obligation to update any forward-looking statements, as outlined in their Form 10-K and other SEC filings.

## Financial Measures and Global Presence

This document includes adjusted non-GAAP financial measures for clarity on company operations. Details about these measures and reconciliations to GAAP figures are available in the appropriate section. References to “Americas,” “EMEA,” and “APAC” reflect specific global regions of operation.

About Abercrombie & Fitch Co.

Abercrombie & Fitch Co. (NYSE: ANF) is a global retailer of apparel and accessories targeting children to millennials. The company operates around 790 stores and various e-commerce platforms, focusing on high-quality, comfortable products that cater to customer lifestyles.

Abercrombie & Fitch Reports Financial Results for Q1 2025

Abercrombie & Fitch Co.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(Unaudited)
	Thirteen Weeks Ended							Thirteen Weeks Ended
	May 3, 2025				% of Net Sales			May 4, 2024				% of Net Sales
Net sales	$	1,097,311			100.0	%		$	1,020,730			100.0	%
Cost of sales, exclusive of depreciation and amortization		417,133			38.0	%			343,273			33.6	%
Selling expense		399,937			36.4	%			360,018			35.3	%

# Financial Highlights Reveal Key Performance Metrics

### General and Administrative Expenses
General and administrative expenses amounted to $174,925, representing 15.9% of total expenses. In comparison, previous expenses were recorded at $189,548 or 18.6%.

### Other Operating Income
The net other operating income showed a loss of $3,783, which corresponds to 0.3% of total operations. This is a decline from the prior period’s operating income of $(1,958), reflecting a -0.2%.

### Operating Income Overview
Operating income reached $101,533, accounting for 9.3% of total revenue. The previous period reported $129,849 or 12.7%.

### Interest Expenses and Income
Interest expense was recorded at $661, making up 0.1% of total expenditures. Meanwhile, interest income reflected a net loss of $7,444 or -0.7%. Prior total interest income was $(10,803), translating to -1.1%.

### Financial Insights
The company’s financials indicate varied performance metrics across different segments, calling for a focused review of operational efficiencies and cost management strategies.# Company Financial Overview: Key Income Data Highlighted

### Income Before Taxes
– Income before income taxes stands at **$108,316**, representing **9.9%** of total revenues.
– Previous period’s income before taxes was **$134,872**, equating to **13.2%**.

### Income Tax Expense
– The income tax expense is **$26,577**, making up **2.4%** of total income.
– In the previous report, this expense was **$19,794**, representing **1.9%**.

### Net Income Statistics
– Net income amounts to **$81,739**, corresponding to **7.4%** of total revenue.
– The prior net income was **$115,078**, at **11.3%**.

### Noncontrolling Interests Impact
– Net income attributable to noncontrolling interests is **$1,326**, or **0.1%** of total income.
– Earlier figures for noncontrolling interests were **$1,228**, also equating to **0.1%**.

This summary encapsulates the key financial performance metrics with significant year-over-year variations.# Abercrombie & Fitch Reports Strong Quarterly Earnings Growth

## Net Income Surges in Financial Results

Abercrombie & Fitch (A&F) announced its net income attributable to the company at **$80,413** million, reflecting a **7.3%** increase in profitability. In the previous period, net income was **$113,850** million, with an **11.2%** income margin.

## Earnings Per Share Climb

For the quarter, basic earnings per share were **$1.63**, while diluted earnings per share reached **$1.59**. In comparison, the prior year’s basic and diluted earnings stood at **$2.24** and **$2.14**, respectively.

## Weighted Average Shares Outstanding

A&F reported **49,214** million basic weighted-average shares outstanding. The diluted average came in at **50,634** million shares.

The release of these figures demonstrates A&F’s ongoing commitment to enhancing its financial performance, bolstered by strategic operational decisions.# Abercrombie & Fitch Reports Financial Data and Non-GAAP Metrics

## Overview of Financial Measures

Abercrombie & Fitch Co. emphasizes the utility of non-GAAP financial measures for investors. These measures exclude certain items, such as asset impairment charges, that the company believes do not reflect future operational outlook. Management uses these metrics to assess performance and formulate future expectations.

### Comparable Sales Definition

The company defines comparable sales as the year-over-year percentage change in sales from stores that operated for at least one year without substantial changes in square footage and digital net sales. This metric is adjusted for current currency exchange rates to eliminate fluctuations.

### Constant Currency Financial Information

To aid investors in understanding business trends, Abercrombie also provides financial information on a constant currency basis. This adjusts prior year results based on current year average exchange rates, taking into account the effects of hedging. The impact on diluted earnings per share is calculated using a 26% tax rate.

### EBITDA as a Performance Measure

EBITDA is another key metric used by the company’s management to evaluate performance. It is considered significant information for investors assessing core financial performance, as it removes variables such as tax jurisdictions, debt levels, and capital investments.

## Financial Data for the Recent Thirteen Weeks

### Reconciliation of Constant Currency Financial Measures

For the thirteen weeks ending May 3, 2025, and May 4, 2024, financial data (in thousands, except percentages) has been presented to demonstrate variance and performance.

#### Net Sales Comparison

– **GAAP Sales:**
– **2025:** $1,097,311
– **2024:** $1,020,730
– **Percentage Change:** Not specified in the provided data.

This concise report details Abercrombie & Fitch’s financial measures, including non-GAAP metrics, to assist investors in evaluating the company’s performance.# Financial Impact of Currency Exchange Rates Revealed

### Overview of Financial Performance

The latest financial report highlights significant impacts from currency exchange fluctuations.

### Key Sales Metrics

– **Impact from Foreign Currency Exchange Rates**: A decrease of 8% was noted due to these changes.

– **Net Sales in Constant Currency**:
– **Current Year**: $1,097,311
– **Prior Year**: $1,020,522
– **Change**: 8%

### Operating Income Analysis

#### GAAP Operating Income

– **2025**: $101,533
– **2024**: $129,849
– **Change**: Decrease of ($340)

### Non-GAAP Performance

#### Additional Insights

– **Impact from Currency Changes**: A negative impact of ($5,234) was recorded.

– **Non-GAAP Constant Currency**:
– **Current Year**: $101,533
– **Prior Year**: $124,615
– **Change**: Decrease of ($290)

### Conclusion

This report underscores the effects that currency exchange rates have had on net sales and operating income, demonstrating the volatility in global markets.“`html

Abercrombie & Fitch Reports Decline in Net Income for 2024

Financial Overview

Net income attributable to A&F

GAAP(1)	$	1.59		$	2.14		$(0.55)
Impact from changes in foreign currency exchange rates(2)		—			(0.08)		0.08
Non-GAAP constant currency basis	$	1.59		$	2.06		$(0.47)

⁽¹⁾ “GAAP” refers to accounting principles generally accepted in the United States of America.

⁽²⁾ The estimated impact from foreign currency is determined by applying current period exchange rates to prior year results and is net of the year-over-year impact from hedging. The per diluted share estimated impact from foreign currency is calculated using a 26% tax rate.

EBITDA Reconciliation

Abercrombie & Fitch Co.

Thirteen Weeks Ended

May 3, 2025

and

May 4, 2024

(in thousands)

(Unaudited)

“`# Financial Summary: 2024 Net Sales and Profit Insights

## Key Metrics for 2024

% of Net Sales		2024			% of Net Sales
Net income	$	81,739			7.4	%	$	115,078			11.3	%
Income tax expense		26,577			2.4			19,794			1.9
Interest income, net		(6,783)	)		(0.6)	)		(5,023)	)		(0.5)	)
Depreciation and amortization		38,576			3.6			37,689			3.7
EBITDA(1)

# Abercrombie & Fitch Reports Financial Results for Q2 2025

## Key Financial Metrics

### Earnings Overview
Abercrombie & Fitch Co. reported financial highlights for the second quarter of 2025, showing revenue growth across key segments.

– **Net Revenue**:
– Current Quarter: $140,109,000
– Previous Quarter: $167,538,000
– Year-Over-Year Change: 12.8% decrease

### EBITDA Analysis
– **EBITDA Margin**:
– Current Quarter: 12.8%
– Previous Quarter: 16.4%

## Balance Sheet Snapshot

### Condensed Consolidated Balance Sheets (in thousands)

#### Assets Overview
As of May 3, 2025, Abercrombie & Fitch has a solid asset base.

– **Current Assets**:
– Cash and Equivalents: $510,563
– Marketable Securities: $97,006
– Receivables: $113,311

#### Historical Context
For comparison, as of February 1, 2025, the company’s cash was reported at $772,727 and marketable securities at $116,221.

### Notes:
(1) EBITDA is defined as net income before interest, income taxes, depreciation, and amortization.
(2) The financial data presented is unaudited.# Financial Summary Reveals Key Asset Figures for Current Quarter

### Assets Breakdown

Current financial data reveals significant asset values for the latest quarter.

– **Current Assets:**
– Previous Quarter: $1,374,170
– Current Quarter: $1,673,431
– Year-to-Date: $1,509,583

– **Inventories:**
– Previous Quarter: $542,059
– Current Quarter: $575,005
– Year-to-Date: $449,267

– **Other Current Assets:**
– Previous Quarter: $111,231
– Current Quarter: $104,154
– Year-to-Date: $102,516

### Long-term Assets and Total Overview

Long-term asset categories also show noteworthy figures.

– **Property and Equipment, Net:**
– Previous Quarter: $606,060
– Current Quarter: $575,773
– Year-to-Date: $540,697

– **Lease Right-of-Use Assets:**
– Previous Quarter: $868,130
– Current Quarter: $803,121
– Year-to-Date: $699,471

– **Other Assets:**
– Previous Quarter: $247,816
– Current Quarter: $247,562
– Year-to-Date: $220,334

### Total Assets

The total asset value has been calculated as follows:

– Previous Total Assets: $3,096,176
– Current Total Assets: $3,299,887# Financial Overview: Liabilities and Stockholders’ Equity Breakdown

## Current Liabilities

Current liabilities are reported as follows:

– **Accounts Payable:**
– $296,738
– $364,532
– $266,925

– **Accrued Expenses:**
– $433,682
– $504,922
– $402,786

– **Short-Term Portion of Operating Lease Liabilities:**
– $215,511
– $211,600
– $188,851

– **Income Taxes Payable:**
– $52,939
– $45,890
– $61,137

**Total Current Liabilities:**
– $998,870
– $1,126,944
– $919,699

## Long-Term Liabilities

Long-term liabilities include:

– **Long-Term Portion of Operating Lease Liabilities:**
– $810,391
– $740,013# Abercrombie & Fitch Co. Financial Overview

## Long-term Borrowings

– Long-term borrowings, net: 656,862
– Previous period: —

## Other Liabilities

– Other liabilities: 84,321
– Previous period: 81,607

## Total Long-term Liabilities

– Total long-term liabilities: 894,712
– Previous period: 821,620

## Stockholders’ Equity

– Total Abercrombie & Fitch Co. stockholders’ equity: 1,189,126
– Previous period: 1,335,628

## Noncontrolling Interests

– Noncontrolling interests: 13,468
– Previous period: 15,695

## Total Stockholders’ Equity

– Total stockholders’ equity: 1,202,594
– Previous period: 1,351,323

## Total Liabilities and Stockholders’ Equity

– Total liabilities and stockholders’ equity: 3,096,176
– Previous period: 3,299,887# Abercrombie & Fitch Co. Reports Cash Flow for Recent Quarter

## Summary of Cash Flows

### Overview
Abercrombie & Fitch Co. has released its unaudited condensed consolidated statements of cash flows for the thirteen weeks ended May 3, 2025.

—

### Operating Activities
– **Net cash used for operating activities**: $(4,000)
– Comparison for the previous year (May 4, 2024): **Net cash provided by operating activities**: $95,010

### Investing Activities
– **Proceeds from maturities of marketable securities**: $20,000
– **Purchases of property and equipment**: $(50,764)
– **Net cash used for investing activities**: $(30,764) compared with $(38,886) from the previous year.

### Financing Activities
Details on financing activities will be provided in subsequent sections.

—

This summary focuses on the critical financial metrics from the recent cash flow statement reflecting Abercrombie & Fitch Co.’s financial performance.“`html

Senior Secured Notes Redemption and Company Stock Purchases

Redemption of Senior Secured Notes

Redemption of senior secured notes — (9,425 )

Common Stock Purchases

Purchases of common Stock (200,000 ) (15,000 )

Stock Acquisition for Tax Withholding

Acquisition of common Stock for tax withholding obligations (34,062 ) (65,173 )

Other Financing Activities

Other financing activities (451 ) (3,353 )

Net Cash Used for Financing Activities

Net cash used for financing activities $ (234,513 ) $ (92,951 )

Effect of Foreign Currency Exchange Rates on Cash

Effect of foreign currency exchange rates on cash $ 7,407 $ (857 )

Net Decrease in Cash and Equivalents

Net decrease in cash and equivalents, and restricted cash and equivalents $ (261,870 ) $ (37,684 )

“`# Cash Flow Summary Highlights Significant Changes for the Period

### Beginning Cash and Equivalents

Cash and equivalents, along with restricted cash and equivalents, started at **$780,395**.

### Ending Cash and Equivalents

At the end of the period, these figures decreased to **$518,525**.

### Summary of Changes

In comparison, previously, cash and equivalents closed at **$909,685**. The decline indicates a drop of **$261,870** in cash and equivalents over the period.

### Disclaimer

The views expressed are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.